The Supreme Court has issued a crucial directive to the State Bank of India (SBI) regarding the disclosure of electoral bonds details to the Election Commission of India (ECI). During a hearing on the electoral bonds matter, Senior Advocate Harish Salve, representing SBI, affirmed the bank's readiness to disclose all pertinent information it holds without reservation.
Led by Chief Justice of India D Y Chandrachud, the Constitution bench emphasized the imperative of transparency in electoral funding and requested SBI to divulge the unique alphanumeric code on the bonds to the ECI. Additionally, the bench instructed the Chairman and Managing Director of SBI to furnish an affidavit by March 21, confirming the sharing of all electoral bonds details with the ECI.
Drawing on previous orders, the bench reiterated SBI's obligation to furnish particulars of electoral bonds purchased and redeemed since April 12, 2019. This encompasses crucial information such as the date of purchase, purchaser's identity, denomination of the bond, and particulars of political parties receiving contributions via electoral bonds.
Senior Advocate Harish Salve reiterated SBI's unwavering commitment to transparency, assuring the court of the bank's willingness to disclose all relevant details. In light of this, the court directed SBI to submit a comprehensive affidavit to ensure unequivocal compliance with its directives.
The Supreme Court's directive underscores the paramount importance of transparency and accountability in electoral funding, heralding a significant stride towards fostering fairness and integrity in the electoral process.